MEMORANDUM To: Patsy Green From: Phil Hogue Date: April 8, 2005 Re: Commercial Mortgage Loan Web Site This memo is a follow up to our recent conversation regarding the creation of a web site to enhance Southern Farm’s commercial mortgage lending program. We look forward to working with your group to carry this project “to the next step”. As I mentioned to you in our earlier conversation, the web page layout has been created and is ready for final review. I suppose the next steps would be the addition of appropriate security features and placement on the web for final testing and implementation. We anticipate that approximately 45 commercial mortgage and real estate management companies (180200 people) will have password access to all parts of the web site. I have attached a basic outline and layout of the web page for your group’s review. We understand that you will not be able to get to this project until maybe next month, but we thought it might be beneficial for you to have something in writing as soon as possible. Thanks again for your help. Cc: Larry Favreau, Jim Barclay “HOME” page of Realty Investments: BASIC LAYOUT OF SFB REALTY INVESTMENTS WEB SITE: The “Home” page consists of 8 “buttons” and is titled Southern Farm Bureau Life Insurance Company – Realty Investments. Below is a list of each button and lists the functions of each: 1. TREASURY RATES - links directly to the Bloomberg web site. 2. SFB CONTACTS - provides photos and contact information of SFB Realty Investment personnel 3. CORRESPONDENT CONTACTS - provides contact information of SFB correspondent contacts in various states. 4. LOAN PRODUCTION - A Security Level will be set up so that access is only granted to SFB personnel and SFB correspondents. A passcode will be required to gain access to anything beyond that level. Once past the security level, there are 6 sections consisting of: a. LOAN PROGRAMS AND RATES - displays the types of loan programs presently offered by Southern Farm and the approximate loan rates associated with each. b. LENDING REGIONS – provides contact information of SFB Production personnel in various lending regions. c. RECENT TRANSACTIONS - provides a brief description of recent loan transactions and will also give the viewer an overview of the types of loans Southern Farm is closing. d. FORMS - this page will contain both interactive forms and forms that can be printed and completed. The forms on the site are: Credit Report Consent Letter Environmental Questionnaire Financial Affairs Questionnaire Tax Information Sheet Tenant Acceptance Letter Subordination, Non-Disturbance & Attornment Agreement Loan Request Summary Mortgage Loan Analysis (5) Operating History (3) e. PRODUCTION CONTACTS - This section will be helpful in directing people to the correct contact personnel in Realty Investments Loan Production. The screen will display personnel photos and contact information. f. – this section will illustrate the various procedures that are required by SFB, such as: Engineer Guidelines Environmental Audit Standards Insurance Requirements Survey Instructions Survey Standards PROCEDURES 5. LOAN ADMINISTRATION - A Security Level will be set up so that access is only granted to SFB personnel and SFB correspondents. A passcode will be required to gain access to anything beyond that level. Once past the security level, there are 3 sections consisting of: a. FORMS - this page will contain both interactive forms and forms that can be printed and completed. The forms on the site are: Assumption Application Consent Letter Financial Affairs Questionnaire Insurance Forms MBA Inspection Form Operating Statement Form SFB Property Inspection Form Real Estate Tax Confirmation Form Replacement Reserve Disbursement Form b. ADMINISTRATION CONTACTS - This section will be helpful in directing people to the correct contact personnel in Realty Investments Loan Administration. The screen will display personnel photos and contact information. c. - this section will illustrate the various servicing procedures that are required by SFB, such as: Assumption Procedures Errors and Omissions Insurance and Fidelity Bond Requirements Insurance Claim Basic Procedures Insurance Loss Draft Procedures Insurance Renewal Instructions Insurance Requirements Operating Statement Procedures Loan Pay Off Procedures Property Inspection Requirements and Procedures Procedures for Electronic Submission of Forms Real Estate Tax Procedures Replacement Reserve Disbursement Procedures UCC Procedures CORRESPONDENT SERVICING MANUAL 6. REAL ESTATE - A Security Level will be set up so that access is only granted to SFB personnel and SFB correspondents. A passcode will be required to gain access to anything beyond that level. Once past the security level, there are 3 sections consisting of: a. FORMS - this page will contain both interactive forms and forms that can be printed and completed. The forms on the site are: Property Managers LLC Forms Workbook Property Budget Format Real Estate LLC Operating Statement Form b. REAL ESTATE CONTACTS - This section will be helpful in directing people to the correct contact personnel in Realty Investments Real Estate. The screen will display personnel photos and contact information. c. – this section will illustrate the various procedures for completing the forms in the “FORMS” section, such as: Instructions for LLC Real Estate Form LLC Property Managers Expenditure & Commission Procedures LLC Operating Statement Form Procedures PROCEDURES 7. SFB REALTY HOME PAGE - this button will take the user back to the main web page. 8. SFB LIFE INSURANCE HOME PAGE - this button will take the user to the Southern Farm Bureau Life Insurance main web page. The following pages depict an outline of the basic web page of the proposed Realty Investments Web Site.